1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of April 30th, the average quotation price of domestic high-quality DMF enterprises was 5760 yuan/ton. In April, the DMF market price showed a trend of first rising and then falling. At the beginning of the month, due to the maintenance of some equipment and the phased recovery of downstream demand, DMF prices began to slowly rise, and enterprise quotations gradually increased, creating a lively market trading atmosphere.
2、 Cause analysis
Market supply: The supply of DMF in the market is gradually increasing, but demand growth is weak, and the driving force for price increases is insufficient. A pullback has begun to occur, and by the end of the month, DMF prices have significantly fallen from the mid month high point. The overall price fluctuation is large, and there are differences in price performance in different regions. East China, as the main consumer and trading region, has more obvious price fluctuations; Prices in North China are relatively stable, but they are also influenced by overall market trends.
Raw material cost: The main raw materials for DMF are methanol and liquid ammonia. In April, the price of methanol fluctuated greatly, with a slight increase at the beginning of the month, but then a decline. The price of liquid ammonia remained relatively stable, but the overall cost still provided some support for DMF prices. The fluctuation of raw material costs poses certain challenges to the cost control of DMF production enterprises.
Downstream demand: Polyurethane is one of the main downstream application areas of DMF. In April, the demand for polyurethane industry showed a flat performance, and the demand growth of terminal furniture, automotive and other industries was slow, resulting in insufficient demand for polyurethane. As a result, the procurement volume of DMF by polyurethane production enterprises remained relatively stable and did not show significant growth. Leather industry: The demand for DMF in the leather industry is also relatively weak. Affected by environmental policies and market competition, some leather enterprises have low operating rates, resulting in a decrease in demand for DMF. At the same time, the export of leather industry products is facing certain pressure, further suppressing the demand for DMF. Electronics industry: The demand for DMF in the electronics industry is relatively small, but there was no significant growth in April. The products in the electronics industry are updated and replaced quickly, and the market demand changes greatly. DMF The demand stability is poor.
3、 Future forecast
DMF analysts from Shengyi Society believe that the situation of sufficient market supply is difficult to change in the short term, and downstream demand is also unlikely to improve significantly in the short term. If raw material prices continue to decline and DMF costs further decrease, prices may continue to decline. However, if downstream demand improves, the magnitude of price decline may be limited to a certain extent.